Basement Finishing questions

Well Im on to my next huge project, I have tons of questions.

My basement is currently all block, we have the trench thing around the parimiter with the pumps incase water were to get in.

What do We seal the block with before we start studding?
Do we need to put the foam and plastic directly on the block after sealing?
Do we stud against that?
Then do we stil but in the pink insulation?
Do you recommend using the green water resistent or moiture guard drywall?

We are just getting started and have a bit of a musty smell, it seems though after we ripped out the old carpeting that it was from that. Also 1/4 of this basement was already (halfassed) finished. We ripped the drywall down that was up. It was installed with 1'lath directly to the block, unsealed, no insullation, no vapor or water barrier nothing, so the dry wall was molded a bit on the back side, from the natural moisture seeping thru the block.

Any advise, direction and products would be GREAT.

Thanks so much.

My husband thinks leaving a few inches from the block then starting the walls would be best, I think its a waste of space and just room for moisture to lingure.. What is the sence. either way it can be moisture blocked, he is thinking it will not be able to ge tto the wall then... Sorry but I think in this case Woman knows best...

Basement Finishing questions

Well I can only say how I did mine and that was put up the plastic. Then we used 2x4 studs so we could insulate, did the wiring plumbing etc. then dry walled. Look for any signs of moisture before you cover stuff up.
If your basement has never been wet your in luck. If it has had water or leakage find out why before you put thousands of dollars into it.
I only used green board in the bathroom in the basement for water protection.
Good Luck with the project--done right it will add value to your house. Done wrong will get expensive in a hurry if you get black mold!!